Lawrence vs Nearby Cities
Lawrence is located between Topeka and Kansas City in northeastern Kansas and commands the highest real estate prices. The median home value in Lawrence is close to $200,000, and the median listing price is around $250,000. Kansas City is substantially more affordable with a median listing price that tends to stay below $150,000. Prices go even lower in Topeka with a median listing price below $120,000 much of the time. Renters can expect to pay less than $1,000 per month on average in Topeka or Kansas City, but rental prices can go higher in Lawrence.
Lawrence Property Managers
When a property owner wants to rent their property more than they want to manage the property, they hire a professional manager to take charge. The manager handles everything from property maintenance and renovations to tenant screening, evictions, accounting and marketing. Tenants typically interact with the manager more than the owner.
Lawrence Property Management Fees
Property managers usually charge a management fee that covers an established list of services plus a leasing fee or vacancy fee. The management fee is often a percentage of the gross rent collected from the property each month. The leasing fee is often a higher percentage of the first month’s rent for all new tenants.
Kansas Landlord/Tenant Laws
- For unfurnished rental units, Kansas landlords may charge up to the amount of one month’s rent for the security deposit.
- When a tenant vacates a rental unit and returns the keys to the landlord, they can expect the return of their security deposit within one month.